Should I Sign A Prenup?
So your husband comes up to you and says “babe, I love you, but I want a prenup…” (probably because he thinks he’ll be worth a lot of money one day… Men and their delusions of grandeur, am I right? 😒 😒 😒
What do you do???
The first thing you do is hire a lawyer.
In the case of signign a prenup, it is beneficial to both of you to have your own lawyers. This actually makes the prenup “stronger.”
One of the requirements for a prenup to be valid is that each party had a “reasonable opportunity” to consult legal counsel. This is based on the Connecticut Prenup Statute, which you can read in full here.
So while the statute only requires that you had an opportunity to contact a lawyer, that’s just the bare minimum. To really solidify the strength of your prenup, you can both hire lawyers… Then there’s no question as to whether you had a reasonable opportunity or not to contact one because, obviously, you both had lawyers!
If the prenup ever gets challenged, this will be one prong that will unequivocally be satisfied if you both get lawyers. SO that’s why its best practice to hire lawyers.
What is A Prenup
For a full, in depth look at prenups, read my blog here.
A prenup is a contract that two prospective spouses make before marriage.
It can pretty much cover anything from division of assets in case of divorce, to who gets life insurance policies, who inherits what, etc.
Prenups typically don’t cover childcare issues because childcare is based on the best interests of a child. However, you can put child related provisions in a prenup, but those provisions will be subjected to court discretion.
Prenups can’t be “unconscionable” at the time they were written, or at the time they are enforced at divorce.
That means, in layman’s terms, they can’t be like so totally unfair and unreasonable that no person would’ve agreed to it. That determination of unconscionablility is determined by a family court judge, and it’s based on all the facts and circumstances of the case.
The burden to show unconscionability is high.
But a classic example is something like this:
Mom and dad sign a prenup when they’re both worth about $10k each. Dad starts a small business and mom stays home and raises 9 children. While mom spends the next two decades raising kids, doing dad’s laundry, keeping the house in order, hiring repairmen, managing the property taxes, buying groceries, making dad dinner, buying wifi and cable, buying new furniture, designing the interior of the home, etc… Dad is hustling his business and 20 years later its worth $100 million dollars.
They get divorced.
Dad says “hey, our prenup says you get nothing, ha ha!”
A judge would likely look at that and say the circumstances of marriage have changed so dramatically and in such an unanticipated way that to leave mom with nothing would be unjust and unconscionable.
That’s an extreme example. But just general unfairness or changes in circumstances alone won’t invalidate a prenup.
But it can always be challenged.
Should I sign It??
Well, as previously mentioned, get a lawyer (*cough cough* you can always call me at 207 550 5604, or email at [email protected])…
If you don’t get a lawyer just make sure you fully understand what you’re signing. Read every word and take every word literally and seriously.
Know that situatiosn may change in your marriage. Dad may inherit a ton of money and you may not be entitled to it down the line.
Unfair outcomes may result at the time you divorce, and you need to weigh those possibilities.
Read through the statute and make sure you abide by all the rules.
The biggest things are to make full financial disclosures between each other, understand what you’re signing, have an opportunity to consult a lawyer, and enter into it voluntarily.
It is extremeely risky to do prenups yourself. Your best bet really is to contact a lawyer. And I’m not just saying that.
Call, text or email today!
207 550 5604